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CryptoAllDay Review - is it scam or safe?

CryptoAllDay Review - Is cryptoallday.com scam or safe cryptocurrency exchange?

RATING: 1 / 24 REVIEWS CryptoAllDay
CryptoAllDay is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

Account type Minimum deposit Maximum leverage Spread
Light $250 / 0.04 BTC 1:5 Approximately 1.75%*
Standard $500 / 0.07 BTC 1:5 Approximately 1.75%*
Premium $2,500 / 0.36 BTC 1:5 Approximately 1.75%*
VIP Super $5,000 / 0.73 BTC 1:5 Approximately 1.75%*

 *we got to this level after testing their platform. Different account types don’t provide better trading conditions, but external benefits.

 

Crypto All Day is an interesting company, which is hard to assess at first sight. We had trouble figuring out if this is a cryptocurrency exchange or a forex broker, offering only crypto CFDs (there is a huge difference between the two). Upon a closer look one could find they put a great emphasis on managing their clients’ investments. This leaves us questioning their credibility. Check the full review for all the details.

 

CryptoAllDay Advantages

 

Nice charting 

Trading with this company is done via a web-based interface. Despite our multiple issues with CryptoAllDay (which we will cover below), we have to give them credit for the choice of charting package. Old school traders may prefer having a desktop application (or program), but even they admit TradingView is a great tool for technical analysis. 

 

How you trade at CryptoAllDay

 

Many crypto-to-crypto pairs

The trading instruments at CryptoAllDay are only cryptocurrencies. They are: Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, DogeCoin, Bytecoin, Dash, Monero, NEO and Quazar.  They are paired in multiple variants, but we suspect these are CFDs and not the actual coins (i.e. this isn’t an exchange, but a forex broker, which only offers crypto).

 

Crypto payments accepted 

There are many options for depositing funds with this company. The typical Bank Transfer and Credit Card are accompanied by a few of the cryptocurrencies: BTC, ETH, BCH, LTC and Dash. The fact not all of the available coins have their own wallets, is very unusual.

 

CryptoAllDay Disadvantages

 

The company will trade your funds

One of our biggest issues, which not all of those who register an a count with  CryptoAllDay will notice is the fact the company will trade for you. While a portion of the website looks like a typical broker, while another states they offer management service, a point in the Terms and Conditions states:

 

 

To put it in other words, this means the firm may manage your account however they seem fit. In case they are a Market Maker (i.e. a company which takes the other side of client trades), this results in a massive conflicts of interests.

 

Trading environment isn’t clear 

We weren’t certain for quire some time if this is a forex broker, without the traditional assets, or a cryptocurrency trading venue. Their website occasionally  mentions options, a bonus offer and your account manager playing a key role. This, alongside the bottom section of the website, leads us to believe this is a CFD broker:

 

 

Not regulated, registered offshore 

The majority of Cryptocurency exchanges are unregulated, simply due to a lack of regulatory framework available. That being said, multiple watchdogs (including ESMA, the European Securities and Markets Authority) have stated derivatives based on crypto should be regulated. CryptoAllDay doesn’t mention being under oversight from any appropriate agency and is based on the Seychelles, as you can see from the previous screenshot. An unregulated offshore company isn’t exactly the safest trading partner.

 

>>Reasons to avoid offshore brokers<<

 

PAMM system isn’t a true PAMM

On top of anything we have said so far, what this broker calls a PAMM, is actually their own team managing your investments. As we mentioned above, this may create an interesting situation, where the company has an incentive to lose your funds. A PAMM system connects you to other third party traders, which will only profit if you do as well.

 

 

>>A list of legitimate PAMM brokers<<

 

Costs of trading not presented

CryptoAllDay doesn’t tell potential clients the target spreads or fees or anything remotely related to the costs one will pay per each trade. Our calculation, based on the screenshot, posted in the beginning of the article, revealed a spread of roughly 1.75% on the BTC/ETH pair. While this may not be that bad, the fact it isn’t properly disclosed is.

 

Relatively high minimum deposit 

A $250 barrier for the smallest account type is a bit too much, when compared to other forex brokers, offering cryptocurrencies. While this may not sound too excessive, the entry requirements for the world of trading have been going down.

 

Withdrawal limits

Another interesting point we managed to find in the Terms and Conditions is the  $100 minimum withdrawal for credit cards and  $1000 for bank transfers. Both of these levels (and especially the second one) are an obstacle for somebody who has started trading, lost some funds and is then willing to cash-out the rest.

 

Conclusion

 

CryptoAllDay is an unregulated, offshore, cryptocurrency CFD company, which disappoints in a lot of ways. The fact they can trade on your behalf on any account and this is only mentioned in the legal documents is very disturbing. Given how it took us quite some time to realize this is a CFD broker and not an exchange, their entire presentation is less than ideal (or intentionally misleading).

 

No matter what the case may be, a broker offering derivatives on crypto must be regulated. You can find top-tier companies, which offer this service below

 

>>Our list of regulated crypto CFD brokers<<

 

The Pros and Cons of Crypto All Day, one more time:

 

Pros Cons
Nice charting The company will trade your funds
Many crypto-to-crypto pairs Trading environment isn’t clear 
Crypto payments accepted Not regulated, registered offshore
  PAMM system isn’t a true PAMM
  Costs of trading not presented
  Relatively high minimum deposit 
  Withdrawal limits

 

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Traders` reviews for CryptoAllDay

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Slippage

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Price feed

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Platform

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Deposit/Withdraw

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Summary

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Cryptoallday run a scam service

Cryptoallday run a scam service, where they take your money, whilst deliberately planning to disappear after a set period.

Myself and a group of colleagues have suffered at their hands..These people have no remorse. They took a large amount of money from me over a period of time, and when the time came for me to withdraw they gave a feeble excuse about some trade going wrong that resulted in the loss of all their client's funds. Then they make themselves uncontactable. They are still trying to do the same with new customers, so PLEASE AVOID AT ALL COSTS.

K Planter 08/08/2019

CryptoAllDay.com is scam: My experience

I have been training as FX currency trader at Learn to trade in Chelsea. A lady who is also training, introduced me and a number of trainees in our group to a man called Michael Green from CryptoAllday.com. He works as a professional crypto currency trader.

She introduced him as an excellent Crypto trader. She used her phone to call Michael and asked him talk to me about his company. He explained to me how he would be able to help me make quick and massive profit on investing in crypto through their company. After having spoken to the trainees who have already invested in Michael’s company, I have decided to invest into his company without making any checks on his company. I lost my guards because he was introduced to me by one of us on the course.
All these started on 30th December 2018, when I got registered with my personal details and a copy of my ID. Michael Green sent me a reference number to transfer money into their wallet. I did it but I transferred only £2.00 into the wallet from my Santander account.

Later on, Michael called me to advise me to invest a minimum of £5000.00. Then on 4th February 2019, I made an investment of £5000.00 into their account through another bank transfer from my Santander account. The investment had a profit of more than £2000.00 from the date of investment to the end of February.

Michael Green called me and informed me about the profit made and asked to invest more in order to gain more and rapid profit. I told him that I didn't have any money to invest. He said he would help me get the money. Firstly, he asked me if I had any savings or pension. I replied no. He then said that we can borrow money from my bank and I will be able to pay it that back in less than a year.

He then asked me to go into my account, which I did and he asked me to download an application called Any Desk, which I also did. He then had access to my HSBC account and literally used my screen to apply for £15000.00 loan, which I transferred into my Santander account. He provided me again with a new Ref code that I used to transfer the money into their wallet on 26th March 2019. I questioned him about the risk management of my investment. He ensured me that he is a professional and their company has an excellent risk management policy and cannot blow up an account.

On 26th June, to my surprised, I realised that the balance on my account dropped down to £0.50. I called Michael Green to explain to me what was going on but he didn't reply. I sent him an email, he still didn't reply. However, he called me the following day with a hidden number and told me that he traded with a high exposure and he lost all my money.
All my friends including the lady who introduced Michael to us also lost all their money at the same time.

He told me that I should forget about what happened and re invest for him to recover the loss. He promised that the company will match any amount invested so as to recover the loss quickly.

I told him that I could invest £2500.00 and see his company match it so as to restart trading for me. He refused and told me that the minimum amount of money I could invest is £5000.00.
From that time, he uses whatsApp and hidden number to call me. He forgot to hide the number once and called me with this number: 020 38078563 and then this one: +41 225000866.

I asked him if we could meet him but he said no. He explained that it was their company policy not to meet clients physically. He confirmed that their office is in London.

He ensured me that he would help me borrow money from my bank again. He once again used the Application: AnyDesk to apply for £9900.00 from my HSBC account. Unfortunately, the bank declined. He asked me to use another bank account or my credit cards. At this point I was convinced that the company was a scam.

Kpoti Agbodjan 07/31/2019

Cryptoallday is a massive SCAM!

Beware this is a SCAM!!! I invested £30,000 in 2019 over the course of 4 months with these crooks. A few days before I was due to make my first large withdrawal they claimed to have lost my entire account in one losing trade! This has happened to 15 other friends of mine too, these scammers have stolen over £750,000 from us as a group. BEWARE and whatever you do, do NOT invest unless you want to loose all your money!

Mel Manser 07/31/2019

Cryptoallday IS A SCAM

After being shown the potential profits from a friends account, I was introduced to the account Manager Michael G. He seemed very knowledgable and claimed he used to be a Forex ~trader and that the real way of making money in these days.
They draw you in by many means, allowing you to make substantial withdrawals after ascertaining your future deposits by asking you many questions about your investments and financial stability. Plus showing you amazing profits.
They draw up a believable investment plan for you and regularly call you to update you and to get you to borrow money to put into your trading account which they manage.
They also encourage you to open a Coinbase account to make deposits easier and then for you to buy bitcoin and transfer it to Cryptoallday to hold in your wallet, which they will sell soon after and claim to put it into your trading account. They don't they probably put it into their account.
After a few months they send you screenshots of an amazing opportunity in the market and claim that many clients are signing up to get more profits and you should do the same. After which they show some profit and then go completely silent about this and talk about the next one.
Then to finish you off they bring in a so called super trader who claims to super charge your account and make over 30% on you account and will try everything to help you take out bank loans, credit card and to cash in your pension. I did two out of the three.
Then to change your life for the worse they will prevent you from making any withdrawals for the month while they trade your account upwards, which they are not doing as their trading account is fake and no trades have or will ever be placed. Then you get a load of messages and phone calls claiming a MARGIN CALL and that your account is in danger of being wiped out .
They then claim it is your fault that the trade went wrong because you were greedy in making them trade with more risk to make more money which is ironic as it is them that suggested increasing the risk to make more money.
For me they tried to see if i could put 25K in and they would put 25K of the companies money to trade back your losses. I call them out on that as they are just trying to get the last drop of money out of you. They have no heart or soul. They scammed me out of £130,000.
Avoid them at all costs.

michael frederick 07/31/2019

Crypto all day - What can I do to get my money back

I invested money with them when I have tried to get it back I have been lied to when it's coming even when I have put a complaint in still not been told when I will get any Mooney back I am still trying to get my money out but the refuse to return any of it or any contact
What can I do to get my money back

Kenny Osborne 07/09/2019

Cryptoallday withdrawal

I joined with these £250 then £500 was told an adviser would manage my account which he did but when I tried to withdraw any money out it keeps saying pending and none is being sent to my bank account is there any wa y I can get my money returned

William Woolrich 06/03/2019

lost 75000€ and cannot withdrawl

Cold calls several weeks to explain how interesting it would be to invest with them But never talked about possibilities to withdrawl part of it or the whole amount invested - lost all my savings in different weeks till I asked for a withdrawl - which is not possible!

Rachel van Engel 02/15/2019

Cryptoallday scam

I gave money into this company and I didn't trade decided I wanted my money returned but they want all of my personal info which my bank advised was not necessary I keep getting phone calls thinking I should totally count my losses of money

Shannon Weber 01/12/2019

Very bad

One person of the cryptoalldays phoned me several weeks (cold calls) to explain to me exactly what are bitcoins. He was speaking fluently dutch. After a period of time I became interested and started with investing a small amount of Euro's.He kept phoning me every week and asked more and more to invest.
When he asked agan (a small amount) I said no! I have to keep it for myself, but before I finished my sentence all my money was gone!- Am living now with a very small pension. his name is Steven Wilson, and he called from Brussels

I still cannot beleive how stupid I was!

Rachel van Engel 01/04/2019

Big scam

Big scam don’t try them or else you will loose all your hard earn money

Peter jame 12/05/2018

Avoid!!!!

Complete scam... You will lose all of your money guaranteed.. Please avoid like the plague.. You will not be able to withdraw.. Please please avoid.. Don't be fooled.

Paul howard 11/22/2018

Need my money back

dear Sirs,
I have put 70.000€ in your company, I can see it is growing well, but I GAVE you all the money I had and now I am totally broke! I want my money back soonest possible please? Steven will not help me, I have to wait 2 months he said, that is not a solution for now! Please refund me as quickly as possible.

Rachel van Engel 10/21/2018

Total scam

Do not whatever you do engage with this company and especially their consultant CHRIS TAYLOR!!!

It's a complete scam, they'll be very pleasant and responsive in the beginning until they have your money and then you'll struggle to speak with them again. They are thiefs plain and simple! We invested £1700 and only got £1000 bavk. The only reason we got any money back at all is because we threatened police action and had to go to so many other incredible lengths. Chris Taylor is quite possibly the most arrogant and manipulative person I've ever come across and is completely erratic. His female colleague who's name unfortunately escapes me screams down the phone at you trying to make out that we as the customer Are liers. She along with Chris Taylor clearly has mental health issues!! Please do not talk to any of these people! Disgusting human beings

Louise Duffy 10/20/2018

Avoid!!!!

A total scam.. Please do not invest. It's a classic scam..

Paul howard 10/15/2018

gangsters

hy ,i invest 42k,my account growing to 74k,and one h after ,they say ,negatif trading ,i lost everithing,and they don't give my one cent back.


CAN we do something ,for put this people in JAIL!!!!!!

alain MERTENS 10/11/2018

Been fooled

Crypto allday took my money and can't get it back can someone help me please

Paul 09/07/2018

Low life parasites

As you people put it, cryptoallday made huge profit on the dashboard for 6 months. When I asked to make a withdrawal they dubbeld the funds in 4 hours then lost it all. My feelings about them-. Low life parasites that need to be removed. Permanently. Rubbish.

Andre Louw 08/29/2018

CryptoAllDay is scam

they contacted me in the bigining of this year and explain me about crypt currency and bitcoin then i invested 5k euro,,then show me same profit and call me all the time by asking me invest more and more i invested total amount 18k,and my account was showimg before the close 35k andsuddenly i could not log in my account when i contacted them they deny my calls at the last one of my account managers answered at the whatsup numper and here is what he wrote me down :-you do not have the necessary funding for a maneged account, to recieve the assistant of broker kindly top up your account with capital,..the names they use this account manager who i work with before they robe me were 1.nick costas 2. Mark anders 3. elex bailey 4.brain 5. Mr Mandosa and mr Tailor the call Amerikan guy.they use acount numper Germany and poland sparekasse koblelz IBAN DE65570501200000266346.and i get another 2 account the robr people the Uk and one in poland,they steal the people aand keep their money thre different exchanges like CEX:IO and LUNO they have office in luxenberg and UK meybe it is cover but i am sure 100% at they are scam and no mercy like ice cold and mafia who are well argonized i wonder how they gonna enjoy that money and help their family and sleep peacfully.any advice or any body who can help to arrest this people i can suply more information.

Abdil Aziz ibrahim 08/27/2018

It is a scam

I invested money and they were very helpful and it was all positive. Then after I couldn't afford to put more money in, there attitude changed, I got taken off their platform and when I got back on my £6k had been reduced to £3k without any explanation. Then 3 weeks on and after many unfulfilled promises, it has gone down to £0. I am now taken legal action against them. They are all as bad as eaCh other within their office, whether it be Chris Taylor, Jessica, Andres , Brian and Alex. Ross who works on reception cant even transfer calls which tells a story. DON'T INVEST WITH THEM AS THEY SHALL STEAL FROM YOU.

Chris Duffy 08/16/2018

Cryptoallday.com scam

This site is a hoax. They show you good yields only to step in with bigger investments.You never get a withdrawle, not only small amounts and Just keep you buisy beleieving there lies.Don't make the mistake I don't give them your money! Andres, Brian etc big scammers!!!

Toby 08/09/2018

Scamm

I have started with them depositing $250.Everything was going well until the moment that I requested to withdraw funds.
They immediately closed my account and the money simply disappeared.The excuse was that this is not professional.
What professionalism have to do with the fact that I wanted my money.
I am certain it is a scam and the moment someone wants some money back with a stupid excuse the money are lost.
There are no official offices no telephone lines you can call.Just a whats app number.

Georgios Kakalis 07/24/2018

Crytoallday is a SCAMMM

They Scammed me for 500 euro

Roger McConaghy 07/13/2018

Bad experience with cryptoallday.com

I started working with cryptoallday on april, 16th, my staff manager was Thomas Friman (if that's his real name). I started with $ 251, during the various phone calls with Thomas, he persuaded me to pay more, a total of over $ 4,000. He then allegedly (so it was in the back office to look up) up to $ 8000 hochgetradet. But with every phone call he asked me to deposit everything I had in cryptocurrencies, so I became skeptical and did more research on the internet and read some bad experiences from former investors. Each time it was about the same story, until the request for payment and as long as the people have paid, everything went well. However, as soon as the money wanted to be paid out, the entire balance was lost with some risky trades. Unfortunately, it was exactly the same scheme for me, I had Thomas then said I needed all my urgent money, but he then let only a payout of 500 and said he must first discuss the payout with his boss that they already had any Trades planned. However, I had previously agreed with him that he only safe trades in terms of Bitcoin buy and sell agreed. In addition, the Bitcoins are on a Cold Storrage Wallet and therefore safe, but then it was said that Bitcoin had fallen by 20% and thus automatically sold. then also 3 times 1000 were put on different crypto currencies and allegedly lost although one could clearly see on tradingview that these trades would have to be won. Thomas then succinctly said that the market was against him and that everything was legitimate. I wrote to the support and the whole situation pointed out (luckily I have documented many things) whereupon my access to cryptoallday.com was blocked. Thomas Friman just said that everything was correct, although at the time of the payout I clearly told him not to do any more trades and he did just the opposite, putting huge amounts of money into risky trades.
The threat of an ad to the police has unfortunately brought nothing, so it is now a concern that this scam is publicized so that no further victims. So I would be very happy if you publish this report and could possibly give me some tips on what I could do to make life difficult for these scammers.

regards
Patrick

Patrick 06/04/2018

I lost $750.00

They are a scam company I losty $750.00 where by they just closed my account and I cannot reach them anymore on emails.I just need my money now,anyone to help get my money back please. Cryptoallday is a scam.

Observe Mushwana 05/30/2018
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